On March 7, The U.S. Department of Labor released a long-awaited proposed rule to address the salary threshold and other requirements related to implementing the exemption from minimum wage and overtime pay requirements for executive, administrative, and professional employees. The new proposed salary threshold is $35,308. In other words, employees who earn less than $35,308 annually would be automatically eligible for time-and-a-half pay for all hours worked beyond a 40-hour work week, according to Bloomberg.
Community associations are subject to state laws that control how associations are developed, governed and managed. This state-based statutory framework has proven successful because it is predicated on the principle of local control over land-use and property decisions. While the community association housing model has a state statutory framework, there are federal issues impacting community associations. Therefore, we’ve identified federal priorities for 2019.
The partial government shutdown impacts several federal agencies and programs important to community associations. Homeowners and buyers, board members, community managers, attorneys, and other business partners may notice delays in condominium loan certification, flood insurance policy changes, drone licensing approvals, and more.